Overview
- Tether attributes the surge to grassroots adoption for remittances and everyday transactions across Latin America, Africa and Southeast Asia.
- The stablecoin market nears $316 billion in value, with Tether and Circle together accounting for over 82% of capitalization, according to CoinGecko.
- Tether plans a U.S.-focused dollar stablecoin called USAT, with its U.S. arm saying the launch will not require outside funding for the project.
- Regulatory focus is intensifying as the U.S. GENIUS Act mandates annual audits for large stablecoins and Europe’s MiCA framework has prompted some exchanges to remove USDT trading pairs.
- Financial disclosures show a record $4.9 billion net profit in Q2 2025 and large U.S. securities holdings, while Bloomberg has reported talks to raise about $20 billion at a roughly $500 billion valuation.